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Liberalisation is external reforms like low tariff, quota specific phenomena, FDI being more or less in every sector and so on. Thus globalisation is the outcome of liberalisation and privatisation, not an extra concept. Written Jun 6, 2015.
number of economic, social and cultural activities. The primary objective of liberalization is to free from the restrictions on production, expansion and following of rigid rules and regulations. This paper attempts to examine the issues and challenges of Globalization and liberalization on Indian economic growth and development. The increase of multinational companies is one of essential features of economic Globalization; a part of the document is devoted to the consideration of their role in this process. At the end this document, the expected future challenges in that process are presented. Keywords Globalization, global economy, aspects of Globalization, effects of Globalization, dilemmas and challenges. economy . 1. INTRODUCTION The process of liberalization and globalization has become a driving force for modern economic development throughout the world. Both the developed and the